Keltner Ribbons

I

I_howard

New member
Hello, hopefully someone can help me with this. I really don't have any experience with writing indicators/studies but have been reviewing lots of codes trying to get a handle on it. I am trying to create an Keltner Channel "Ribbon". to have 4-5 different ATR's on one indicator, but am stuck on how to do this. Below is what I have so far. I would greatly appreciate any feedback or help with this.


declare weak_volume_dependency;

input displace = 0;
input factor = 1.5;
input length = 1;
input price = close;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

plot Avg = average[-displace];
Avg.SetDefaultColor(GetColor(1));

plot Upper_Band = average[-displace] + shift[-displace];
Upper_Band.SetDefaultColor(GetColor(8));

plot Lower_Band = average[-displace] - shift[-displace];
Lower_Band.SetDefaultColor(GetColor(5));

plot ATR1;
plot ATR2;
plot ATR3;
plot ATR4;
plot ATR5;


if (factor == 1.5)
then {
ATR1 = KeltnerChannels(price, Length);
ATR2 = KeltnerChannels(price, Length + .5
ATR3 = KeltnerChannels(price, Length + 1
ATR4 = KeltnerChannels(price, Length + 1.5
ATR5 = KeltnerChannels(price, Length + 2

} else {
ATR1 = KeltnerChannels(price, Length);
ATR2 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, .5));
ATR3 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 1));
ATR4 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 1.5));
ATR5 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 2));

}

ATR1.SetDefaultColor(CreateColor(255, 65, 0));
ATR2.SetDefaultColor(CreateColor(255, 90, 0));
ATR3.SetDefaultColor(CreateColor(255, 115, 0));
ATR4.SetDefaultColor(CreateColor(255, 140, 0));
ATR5.SetDefaultColor(CreateColor(255, 150, 0));

What is being flagged is;
if
ATR2 = KeltnerChannels(price, Length + .5
ATR3 = KeltnerChannels(price, Length + 1
ATR4 = KeltnerChannels(price, Length + 1.5
ATR5 = KeltnerChannels(price, Length + 2

} else {
ATR1 = KeltnerChannels(price, Length);
 
Solution
halcyonguy
I_howard said:
Hello, hopefully someone can help me with this. I really don't have any experience with writing indicators/studies but have been reviewing lots of codes trying to get a handle on it. I am trying to create an Keltner Channel "Ribbon". to have 4-5 different ATR's on one indicator, but am stuck on how to do this. Below is what I have so far. I would greatly appreciate any feedback or help with this.


declare weak_volume_dependency;

input displace = 0;
input factor = 1.5;
input length = 1;
input price = close;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average =...
Click to expand...
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I_howard said:
Hello, hopefully someone can help me with this. I really don't have any experience with writing indicators/studies but have been reviewing lots of codes trying to get a handle on it. I am trying to create an Keltner Channel "Ribbon". to have 4-5 different ATR's on one indicator, but am stuck on how to do this. Below is what I have so far. I would greatly appreciate any feedback or help with this.


declare weak_volume_dependency;

input displace = 0;
input factor = 1.5;
input length = 1;
input price = close;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

plot Avg = average[-displace];
Avg.SetDefaultColor(GetColor(1));

plot Upper_Band = average[-displace] + shift[-displace];
Upper_Band.SetDefaultColor(GetColor(8));

plot Lower_Band = average[-displace] - shift[-displace];
Lower_Band.SetDefaultColor(GetColor(5));

plot ATR1;
plot ATR2;
plot ATR3;
plot ATR4;
plot ATR5;


if (factor == 1.5)
then {
ATR1 = KeltnerChannels(price, Length);
ATR2 = KeltnerChannels(price, Length + .5
ATR3 = KeltnerChannels(price, Length + 1
ATR4 = KeltnerChannels(price, Length + 1.5
ATR5 = KeltnerChannels(price, Length + 2

} else {
ATR1 = KeltnerChannels(price, Length);
ATR2 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, .5));
ATR3 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 1));
ATR4 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 1.5));
ATR5 = KeltnerChannels(price, Length * Power(incrementOrMultiplier, 2));

}

ATR1.SetDefaultColor(CreateColor(255, 65, 0));
ATR2.SetDefaultColor(CreateColor(255, 90, 0));
ATR3.SetDefaultColor(CreateColor(255, 115, 0));
ATR4.SetDefaultColor(CreateColor(255, 140, 0));
ATR5.SetDefaultColor(CreateColor(255, 150, 0));

What is being flagged is;
if
ATR2 = KeltnerChannels(price, Length + .5
ATR3 = KeltnerChannels(price, Length + 1
ATR4 = KeltnerChannels(price, Length + 1.5
ATR5 = KeltnerChannels(price, Length + 2

} else {
ATR1 = KeltnerChannels(price, Length);
Click to expand...


3 main things are wrong
---------------------

several code lines are missing ) and a ;
ATR2 = KeltnerChannels(price, Length + .5

------------------------

if you look up KeltnerChannels , you will see what the input parameters are and what order they belong in.
https://tlc.thinkorswim.com/center/reference/Tech-Indicators/studies-library/G-L/KeltnerChannels

KeltnerChannels( displace, factor, length, price, average type, true range average type )


you are only supplying 2 parameters , price and length.
and they are in the wrong location, 1st and 2nd.
price is the 4th parameter, length is the 3rd parameter.

one way to fix this would be to provide the first 4 parameters, in the correct sequence.

if you don't want to provide the first 4 parameters, you can include the parameter name along with the data. then the order or quantity doesn't matter.

ATR2 = KeltnerChannels(price = price, length = (Length + .5) );

----------------------------

this variable isn't defined, incrementOrMultiplier.
i created the following formula to define it. i have no idea if 2 is a good number.
def incrementOrMultiplier = 2;

it is used in a power function, as the number parameter.
Power(number, power)

----------------------------

i never used this,
declare weak_volume_dependency;
https://tlc.thinkorswim.com/center/reference/thinkScript/Declarations

so i have no comment on it, other than to say, experiment with it and other declares.

-------------------------

here is a patched study, that draws lines.


Code: 
# keltner_atr_bands_00

#https://usethinkscript.com/threads/keltner-ribbons.14224/
#Keltner Ribbons

declare weak_volume_dependency;

input displace = 0;
input factor = 1.5;
input length = 1;
input price = close;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

plot Avg = average[-displace];
Avg.SetDefaultColor(GetColor(1));

plot Upper_Band = average[-displace] + shift[-displace];
Upper_Band.SetDefaultColor(GetColor(8));

plot Lower_Band = average[-displace] - shift[-displace];
Lower_Band.SetDefaultColor(GetColor(5));


# Power(number, power);    
def incrementOrMultiplier = 2;

plot ATR1;
plot ATR2;
plot ATR3;
plot ATR4;
plot ATR5;

if (factor == 1.5) then {
  ATR1 = KeltnerChannels(price = price, length = length);
  ATR2 = KeltnerChannels(price = price, length = Length + .5);
  ATR3 = KeltnerChannels(price = price, length = Length + 1);
  ATR4 = KeltnerChannels(price = price, length = Length + 1.5);
  ATR5 = KeltnerChannels(price = price, length = Length + 2);
} else {
  ATR1 = KeltnerChannels(price = price, length = Length);
  ATR2 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, .5)));
  ATR3 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 1)));
  ATR4 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 1.5)));
  ATR5 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 2)));
}

ATR1.SetDefaultColor(CreateColor(255, 65, 0));
ATR2.SetDefaultColor(CreateColor(255, 90, 0));
ATR3.SetDefaultColor(CreateColor(255, 115, 0));
ATR4.SetDefaultColor(CreateColor(255, 140, 0));
ATR5.SetDefaultColor(CreateColor(255, 150, 0));


#  KeltnerChannels(displace, factor, length, price, average type, true range average type )
#
 
Upvote 0 Downvote
Solution
halcyonguy said:
3 main things are wrong
---------------------

several code lines are missing ) and a ;
ATR2 = KeltnerChannels(price, Length + .5

------------------------

if you look up KeltnerChannels , you will see what the input parameters are and what order they belong in.
https://tlc.thinkorswim.com/center/reference/Tech-Indicators/studies-library/G-L/KeltnerChannels

KeltnerChannels( displace, factor, length, price, average type, true range average type )


you are only supplying 2 parameters , price and length.
and they are in the wrong location, 1st and 2nd.
price is the 4th parameter, length is the 3rd parameter.

one way to fix this would be to provide the first 4 parameters, in the correct sequence.

if you don't want to provide the first 4 parameters, you can include the parameter name along with the data. then the order or quantity doesn't matter.

ATR2 = KeltnerChannels(price = price, length = (Length + .5) );

----------------------------

this variable isn't defined, incrementOrMultiplier.
i created the following formula to define it. i have no idea if 2 is a good number.
def incrementOrMultiplier = 2;

it is used in a power function, as the number parameter.
Power(number, power)

----------------------------

i never used this,
declare weak_volume_dependency;
https://tlc.thinkorswim.com/center/reference/thinkScript/Declarations

so i have no comment on it, other than to say, experiment with it and other declares.

-------------------------

here is a patched study, that draws lines.


Code: 
# keltner_atr_bands_00

#https://usethinkscript.com/threads/keltner-ribbons.14224/
#Keltner Ribbons

declare weak_volume_dependency;

input displace = 0;
input factor = 1.5;
input length = 1;
input price = close;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);

def average = MovingAverage(averageType, price, length);

plot Avg = average[-displace];
Avg.SetDefaultColor(GetColor(1));

plot Upper_Band = average[-displace] + shift[-displace];
Upper_Band.SetDefaultColor(GetColor(8));

plot Lower_Band = average[-displace] - shift[-displace];
Lower_Band.SetDefaultColor(GetColor(5));


# Power(number, power);   
def incrementOrMultiplier = 2;

plot ATR1;
plot ATR2;
plot ATR3;
plot ATR4;
plot ATR5;

if (factor == 1.5) then {
  ATR1 = KeltnerChannels(price = price, length = length);
  ATR2 = KeltnerChannels(price = price, length = Length + .5);
  ATR3 = KeltnerChannels(price = price, length = Length + 1);
  ATR4 = KeltnerChannels(price = price, length = Length + 1.5);
  ATR5 = KeltnerChannels(price = price, length = Length + 2);
} else {
  ATR1 = KeltnerChannels(price = price, length = Length);
  ATR2 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, .5)));
  ATR3 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 1)));
  ATR4 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 1.5)));
  ATR5 = KeltnerChannels(price = price, length = (length * Power(incrementOrMultiplier, 2)));
}

ATR1.SetDefaultColor(CreateColor(255, 65, 0));
ATR2.SetDefaultColor(CreateColor(255, 90, 0));
ATR3.SetDefaultColor(CreateColor(255, 115, 0));
ATR4.SetDefaultColor(CreateColor(255, 140, 0));
ATR5.SetDefaultColor(CreateColor(255, 150, 0));


#  KeltnerChannels(displace, factor, length, price, average type, true range average type )
#
Click to expand...
Thank you for this.
 
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